Business Dynamics Models: Optimization-Based One Step Ahead Optimal Control

Business Dynamics Models: Optimization-Based One Step Ahead Optimal Control includes solutions that provide a rationale for the use of optimal control and guidelines for further investigation into more complex models, as well as formulations that can also be used in a so-called flight simulator mode to investigate different complex scenarios. The text offers a modern programming environment (Jupyter notebooks in JuMP/Julia) for modeling, simulation, and optimization, and Julia code and notebooks are provided on a website for readers to experiment with their own examples.

This book is intended for students majoring in applied mathematics, business, and engineering. The authors use a formulation-algorithm-example approach, rather than the classical definition-theorem-proof, making the material understandable to senior undergraduates and beginning graduates.